Riverview Bancorp (NASDAQ:RVSB) Releases Quarterly Earnings Results, Beats Estimates By $0.01 EPS

Riverview Bancorp (NASDAQ:RVSB) released its quarterly earnings results on Tuesday. The savings and loans company reported $0.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.07 by $0.01, Zacks reports. Riverview Bancorp had a negative net margin of 6.70% and a positive return on equity of 2.74%. The company had revenue of $15.01 million during the quarter, compared to the consensus estimate of $14.80 million.

Riverview Bancorp Price Performance

Shares of NASDAQ RVSB opened at $5.37 on Wednesday. The company has a 50 day simple moving average of $5.51 and a two-hundred day simple moving average of $5.41. Riverview Bancorp has a fifty-two week low of $4.74 and a fifty-two week high of $6.22. The company has a market capitalization of $108.26 million, a price-to-earnings ratio of -25.57 and a beta of 0.48. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.94 and a current ratio of 0.94.

Riverview Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 21st. Shareholders of record on Thursday, July 9th were paid a dividend of $0.02 per share. The ex-dividend date of this dividend was Thursday, July 9th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 1.5%. Riverview Bancorp’s dividend payout ratio (DPR) is currently -38.10%.

Insider Buying and Selling at Riverview Bancorp

In related news, major shareholder Nierenberg Investment Manageme sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 22nd. The stock was sold at an average price of $5.25, for a total value of $26,250.00. Following the sale, the insider owned 89,388 shares in the company, valued at $469,287. This represents a 5.30% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In the last quarter, insiders purchased 4,896 shares of company stock valued at $26,082. Corporate insiders own 3.90% of the company’s stock.

Institutional Investors Weigh In On Riverview Bancorp

Several hedge funds have recently added to or reduced their stakes in RVSB. Arrowstreet Capital Limited Partnership grew its stake in shares of Riverview Bancorp by 1.3% in the third quarter. Arrowstreet Capital Limited Partnership now owns 581,943 shares of the savings and loans company’s stock worth $3,125,000 after acquiring an additional 7,220 shares during the last quarter. Geode Capital Management LLC boosted its stake in Riverview Bancorp by 1.2% in the 4th quarter. Geode Capital Management LLC now owns 471,324 shares of the savings and loans company’s stock worth $2,366,000 after purchasing an additional 5,793 shares in the last quarter. Bridgeway Capital Management LLC boosted its stake in Riverview Bancorp by 2.8% in the 4th quarter. Bridgeway Capital Management LLC now owns 275,199 shares of the savings and loans company’s stock worth $1,381,000 after purchasing an additional 7,575 shares in the last quarter. Marshall Wace LLP purchased a new stake in Riverview Bancorp during the 2nd quarter valued at about $913,000. Finally, Empowered Funds LLC grew its position in Riverview Bancorp by 6.3% during the 4th quarter. Empowered Funds LLC now owns 128,293 shares of the savings and loans company’s stock valued at $644,000 after purchasing an additional 7,575 shares during the last quarter. 69.60% of the stock is owned by institutional investors.

Analysts Set New Price Targets

RVSB has been the topic of a number of research analyst reports. Weiss Ratings downgraded Riverview Bancorp from a “sell (d+)” rating to a “sell (d)” rating in a report on Thursday, July 9th. Wall Street Zen raised Riverview Bancorp from a “sell” rating to a “hold” rating in a research note on Sunday, July 12th. One equities research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Riverview Bancorp has an average rating of “Reduce”.

About Riverview Bancorp

Riverview Bancorp, Inc (NASDAQ: RVSB) is the bank holding company for Riverview Bank, a community-oriented financial institution headquartered in Pittsburgh, Pennsylvania. Through its subsidiary, the company provides a comprehensive suite of personal and commercial banking services designed to meet the needs of individuals, small businesses and local organizations.

The company’s deposit offerings include checking and savings accounts, certificates of deposit and money market accounts, all supported by online and mobile banking platforms.